HP CEO Mark Hurd resigns following sexual harassment charges

HP Chairman, CEO and President Mark Hurd resigned from his positions in the company on Friday after sexual harassment claims were brought against him by a former HP contractor.

"As the investigation progressed, I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP and which have guided me throughout my career. After a number of discussions with members of the board, I will move aside and the board will search for new leadership." Hurd's official statement said Friday. "This is a painful decision for me to make after five years at HP, but I believe it would be difficult for me to continue as an effective leader at HP and I believe this is the only decision the board and I could make at this time. I want to stress that this in no way reflects on the operating performance or financial integrity of HP."

An investigation found that Hurd did not violate HP's sexual harassment policy, but did violate HP's Standards of Business conduct.

HP Chief Financial Officer Cathis Lesjak has been assigned as the interim CEO of the company following Hurd's departure. Board members Marc Andreessen, (founder of Netscape and co-founder of Ning) Lawrence Babbio, Jr., John Hammergren and Joel Hyatt will lead the search for a permanent replacement.